Scarlett Posted January 16, 2019 Share Posted January 16, 2019 Dh has flipped the plan and made a few changes. I have looked and looked and thought about it a long time and I don’t find a plan I like better than this one that will fit on our narrow lot. We are ready to put a sign out front and advertise early to mid February. When it sells we have to find a place to live for 6 months while we build. That part is a big unknown which freaks me out but I just have to go with the flow on that one. My next question is money. I need to call bank and talk to people...but I think I will talk to my boss first. But say for ease of numbers that we have $100k cash and will need another 20k to build. Is it better to bank the cash and get a construction loan so that we don’t have problems with getting a loan at the end when we need it? Or just use our cash and then he a loan at the end? Also a friend told me yesterday a Heloc was cheaper than a mortgage because a HELOC is simple interest and a mortgage is compound interest. I have NEVER. Heard that and haven’t had time to sit down and figure out the math on that. Anyone know? 3 Quote Link to comment Share on other sites More sharing options...
Scarlett Posted January 16, 2019 Author Share Posted January 16, 2019 And here is a link to the exterior https://www.theplancollection.com/house-plans/home-plan-26347 3 Quote Link to comment Share on other sites More sharing options...
Catwoman Posted January 16, 2019 Share Posted January 16, 2019 I love it, Scarlett! Quote Link to comment Share on other sites More sharing options...
Familia Posted January 16, 2019 Share Posted January 16, 2019 We would never do a mortgage again, only a HELOC. Takes discipline, since all of the loan amount is available to you. If you are not tempted by that, a HELOC will make your payoff super fast and result in tens or hundreds of thousands of dollars savings in interest. Quote Link to comment Share on other sites More sharing options...
Bootsie Posted January 16, 2019 Share Posted January 16, 2019 HELOCS usually have higher interested rates than a mortgage, and HELOC rates are usually adjustable rates. But, you only pay interest on the part of the line of credit you have drawn. So, if you have a $20,000 HELOC and have only drawn $5,0000, you only pay interest on the $5,000. One of the factors to consider in determining what is cheaper in your particular situation is how long you are planning to take to pay off the loan. Quote Link to comment Share on other sites More sharing options...
stephanier.1765 Posted January 16, 2019 Share Posted January 16, 2019 I love front porches. That's one of my favorite features of our house. The entire thing is just as cute as it can be. Here's hoping for a quick and easy build. Quote Link to comment Share on other sites More sharing options...
theelfqueen Posted January 16, 2019 Share Posted January 16, 2019 Lovely. I won't ever build because I would hear forever about how some doorway wasn't wide enough or the outlets are in the wrong place or whatever.... I hear it now but i can blame the previous owner lol 2 Quote Link to comment Share on other sites More sharing options...
TechWife Posted January 17, 2019 Share Posted January 17, 2019 That looks like a great plan! Quote Link to comment Share on other sites More sharing options...
catz Posted January 17, 2019 Share Posted January 17, 2019 I will say it's possible to take out a mortgage and pay it off much faster. We had a 30 year mortgage we are paying off within the next couple months at about the 15 year point. We got the lower interest rate and it gave us a little flexibility in the event of leaner times. My husband's industry can be a little volatile at times but we've been lucky throughout. Like someone else said, just make sure you're not signing up for something that docks you for paying ahead of schedule. 1 Quote Link to comment Share on other sites More sharing options...
Random Posted January 17, 2019 Share Posted January 17, 2019 We were in a similar situation recently, and we ran in to an unexpected issue. We paid cash for what we could and then tried to get a loan to finish the house, but it was tricky because we were past the point of being able to get a construction loan but were not done enough to have a loan on the house itself. This may or may not be an issue for you, but just wanted to throw it out there so you can ask your lender. Best wishes on the house building! It's a great floorplan! I'd add a bigger pantry, if I were you...but I have a house full of teen eating machines. Quote Link to comment Share on other sites More sharing options...
Scarlett Posted January 17, 2019 Author Share Posted January 17, 2019 58 minutes ago, Random said: We were in a similar situation recently, and we ran in to an unexpected issue. We paid cash for what we could and then tried to get a loan to finish the house, but it was tricky because we were past the point of being able to get a construction loan but were not done enough to have a loan on the house itself. This may or may not be an issue for you, but just wanted to throw it out there so you can ask your lender. Best wishes on the house building! It's a great floorplan! I'd add a bigger pantry, if I were you...but I have a house full of teen eating machines. Yes this is what I am thinking, and like AM said upthread there are other protections too, Quote Link to comment Share on other sites More sharing options...
Scarlett Posted January 17, 2019 Author Share Posted January 17, 2019 This shows the update to the master bath.....bigger shower. Also I think we are going to have the kitchen step up bar with the sink be just an island all one height. And put the sink on one of the walls. 3 Quote Link to comment Share on other sites More sharing options...
Scarlett Posted January 17, 2019 Author Share Posted January 17, 2019 1 hour ago, FuzzyCatz said: I will say it's possible to take out a mortgage and pay it off much faster. We had a 30 year mortgage we are paying off within the next couple months at about the 15 year point. We got the lower interest rate and it gave us a little flexibility in the event of leaner times. My husband's industry can be a little volatile at times but we've been lucky throughout. Like someone else said, just make sure you're not signing up for something that docks you for paying ahead of schedule. Yes, this is what I gotta bought would be best. Get a small mortgage, fixed rate, and then pay it off quickly. 1 Quote Link to comment Share on other sites More sharing options...
MrsRobinson Posted January 17, 2019 Share Posted January 17, 2019 I love it. I'd be happy in that house with dh and my 3 kids. I love the porches encouraging you to go outside. 😊 Will the island be the same size as the plan or will you eliminate the bar portion altogether? Personally, I'd put the cooktop/oven on the island but that's because I despise cleaning the wall behind the stove and the underside of the microwave and cabinets above the stove. The angles you have to twist your arms to reach are terrible for scrubbing! Lol! 😁 Do your nearby parents also have a narrow lot? Do they like their floor plan? Does this floor plan fix things they don't like about theirs? I'm just curious. I love chatting about houses. 😊 Quote Link to comment Share on other sites More sharing options...
Scarlett Posted January 17, 2019 Author Share Posted January 17, 2019 27 minutes ago, MrsRobinson said: I love it. I'd be happy in that house with dh and my 3 kids. I love the porches encouraging you to go outside. 😊 Will the island be the same size as the plan or will you eliminate the bar portion altogether? Personally, I'd put the cooktop/oven on the island but that's because I despise cleaning the wall behind the stove and the underside of the microwave and cabinets above the stove. The angles you have to twist your arms to reach are terrible for scrubbing! Lol! 😁 Do your nearby parents also have a narrow lot? Do they like their floor plan? Does this floor plan fix things they don't like about theirs? I'm just curious. I love chatting about houses. 😊 This is a very old neighborhood. This lot along with the entire block once belonged to one family. They eventually split up the lots and gave some to kids etc. One son of the original family still lives across the street from my parents. My parents live in the original house which is old, but added on to and updated through the years. Their lot is 1/2 acre. So there is not much rhyme or reason to the layout of the lots. The lot next to my parents has an old house that was once a horse barn. And that lot added a small garage that sits 1 foot on to the next lot which is the lot we are going to build on. So there are some issues. But it is a dead end street and backs up to a big house/acreage owned by a doctor in town the island will remain the same size....I want it big. I don’t want it to have anything any it.....but I also won’t have a microwave over my cook stove...I hate 1 Quote Link to comment Share on other sites More sharing options...
MrsRobinson Posted January 17, 2019 Share Posted January 17, 2019 (edited) Sounds like the neighborhood I grew up in! ❤️ There is a really big brick house with a carriage house in back (swoon) and the next lot over was the barn. Its a house now but still has the essence of the barn! 😉 The house I grew up in (and a few others) was built in the 50s and the last two lots were just built on within the last 5 years. I love quirky neighborhoods like that! Gives it personality! Edited January 17, 2019 by MrsRobinson 1 Quote Link to comment Share on other sites More sharing options...
Scarlett Posted January 17, 2019 Author Share Posted January 17, 2019 8 minutes ago, MrsRobinson said: Sounds like the neighborhood I grew up in! ❤️ There is a really big brick house with a carriage house in back (swoon) and the next lot over was the barn. Its a house now but still has the essence of the barn! 😉 The house I grew up in (and a few others) was built in the 50s and that last two lots were just built on within the last 5 years. I love quirky neighborhoods like that! Gives it personality! It is really the perfect set up for us. I am excited to get a new house. 🙂 3 Quote Link to comment Share on other sites More sharing options...
Scarlett Posted January 29, 2019 Author Share Posted January 29, 2019 Ok Dh has talked me into having the sink in the island. I still want it all the same height. 3 Quote Link to comment Share on other sites More sharing options...
Annie G Posted January 29, 2019 Share Posted January 29, 2019 We’re about to remove a breakfast bar and make it all the same height. Friends and family are aghast. Why would we do that? We’ll lose seating! Um, there is a dining room a few steps away and I’d rather have one large open space than that breakfast bar that screams ‘here is where to dump your keys and stuff’. Quote Link to comment Share on other sites More sharing options...
StephanieZ Posted January 29, 2019 Share Posted January 29, 2019 great house plan!! Quote Link to comment Share on other sites More sharing options...
Scarlett Posted January 30, 2019 Author Share Posted January 30, 2019 12 hours ago, Arctic Mama said: I do like a backsplash or ledge on an island that has a sink or cooktop to hide kitchen mess if it is open concept, but that’s just me 🙂. There will be no mess! LOL Quote Link to comment Share on other sites More sharing options...
ksr5377 Posted January 31, 2019 Share Posted January 31, 2019 I love the porch! And the rest of it! Especially the 2.5 baths! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.